NiSource Inc. (NYSE:NI) Receives $32.43 Average Price Target from Brokerages

Shares of NiSource Inc. (NYSE:NI) have been given an average rating of “Buy” by the six research firms that are covering the stock, MarketBeat.com reports. Six equities research analysts have rated the stock with a buy rating. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $32.43.

NI has been the subject of a number of recent analyst reports. BMO Capital Markets upped their target price on NiSource from $34.00 to $36.00 and gave the company an “outperform” rating in a report on Thursday, September 12th. Barclays upped their price objective on shares of NiSource from $34.00 to $35.00 and gave the stock an “overweight” rating in a report on Tuesday, August 13th. Evercore ISI lifted their target price on shares of NiSource from $32.00 to $34.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Bank of America initiated coverage on shares of NiSource in a research note on Thursday, September 12th. They issued a “buy” rating and a $37.00 price target for the company. Finally, Mizuho initiated coverage on NiSource in a research report on Thursday, July 11th. They set an “outperform” rating and a $33.00 price objective on the stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Sanctuary Advisors LLC purchased a new stake in shares of NiSource during the second quarter valued at approximately $2,964,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of NiSource in the 2nd quarter worth $47,000. Aurora Investment Counsel raised its stake in shares of NiSource by 0.7% in the second quarter. Aurora Investment Counsel now owns 62,589 shares of the utilities provider’s stock worth $1,803,000 after purchasing an additional 450 shares during the last quarter. Cetera Investment Advisers lifted its holdings in shares of NiSource by 1.0% during the second quarter. Cetera Investment Advisers now owns 69,397 shares of the utilities provider’s stock valued at $1,999,000 after purchasing an additional 671 shares in the last quarter. Finally, 3Chopt Investment Partners LLC purchased a new stake in shares of NiSource during the second quarter valued at $226,000. Hedge funds and other institutional investors own 91.64% of the company’s stock.

NiSource Price Performance

Shares of NiSource stock opened at $34.38 on Tuesday. The stock has a market capitalization of $15.41 billion, a P/E ratio of 22.47, a price-to-earnings-growth ratio of 2.86 and a beta of 0.51. NiSource has a one year low of $22.86 and a one year high of $34.56. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.78 and a quick ratio of 0.63. The business’s 50 day simple moving average is $32.56 and its two-hundred day simple moving average is $29.74.

NiSource (NYSE:NI) last posted its quarterly earnings results on Wednesday, August 7th. The utilities provider reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.06. The company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.16 billion. NiSource had a net margin of 14.76% and a return on equity of 9.15%. During the same period in the prior year, the business posted $0.11 EPS. Analysts forecast that NiSource will post 1.72 EPS for the current year.

NiSource Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Thursday, October 31st will be given a $0.265 dividend. The ex-dividend date is Thursday, October 31st. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.08%. NiSource’s dividend payout ratio is currently 69.28%.

About NiSource

NiSource Inc, an energy holding company, operates as a regulated natural gas and electric utility company in the United States. It operates in two segments, Gas Distribution Operations and Electric Operations. The company distributes natural gas to approximately 3.3 million customers through approximately 55,000 miles of distribution main pipeline and the associated individual customer service lines; and 1,000 miles of transmission main pipeline in northern Indiana, Ohio, Pennsylvania, Virginia, Kentucky, and Maryland.